Price for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Spain - 2023

Contents:

1. Price for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Spain (CIF) - 2023
2. Price for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Spain (FOB) - 2023
3. Imports of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Spain
4. Exports of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Spain

Price for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Spain (CIF) - 2023

The average import price for raw cane sugar (without flavoring or coloring matter, other) stood at $690 per ton in October 2023, shrinking by -35.9% against the previous month. Over the period under review, import price indicated pronounced growth from October 2022 to October 2023: its price increased at an average monthly rate of +2.3% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on October 2023 figures, import price for raw cane sugar (without flavoring or coloring matter, other) increased by +5.6% against August 2023 indices. The growth pace was the most rapid in September 2023 when the average import price increased by 65% month-to-month. As a result, import price reached the peak level of $1,077 per ton, and then dropped significantly in the following month.

Prices varied noticeably by the country of origin: the country with the highest price was France ($6,899 per ton), while the price for Brazil ($664 per ton) was amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by France (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Spain (FOB) - 2023

In October 2023, the average export price for raw cane sugar (without flavoring or coloring matter, other) amounted to $1,101 per ton, with an increase of 3.4% against the previous month. Over the period from October 2022 to October 2023, it increased at an average monthly rate of +2.2%. The pace of growth appeared the most rapid in November 2022 an increase of 22% against the previous month. Over the period under review, the average export prices attained the peak figure at $1,195 per ton in May 2023; however, from June 2023 to October 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In October 2023, the country with the highest price was the UK ($3,455 per ton), while the average price for exports to Portugal ($1,079 per ton) was amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+11.1%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Spain

Imports of raw cane sugar (without flavoring or coloring matter, other) into Spain skyrocketed to 581K tons in 2022, picking up by 59% against the previous year's figure. Overall, imports recorded strong growth. The pace of growth was the most pronounced in 2021 with an increase of 114%. Over the period under review, imports of reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, imports of raw cane sugar (without flavoring or coloring matter, other) soared to $310M in 2022. In general, imports recorded significant growth. The growth pace was the most rapid in 2021 when imports increased by 153% against the previous year. Over the period under review, imports of attained the maximum in 2022 and are expected to retain growth in the immediate term.

Top Suppliers of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) to Spain in 2022:

1. Brazil (263.4K tons)
2. France (187.9K tons)
3. Belize (34.7K tons)
4. South Africa (30.0K tons)
5. Guatemala (25.9K tons)
6. Netherlands (10.6K tons)
7. Costa Rica (8.9K tons)
8. Mozambique (0.1K tons)

Exports of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Spain

In 2022, shipments abroad of raw cane sugar (without flavoring or coloring matter, other) decreased by -10% to 5K tons, falling for the second consecutive year after two years of growth. Over the period under review, exports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2020 when exports increased by 31% against the previous year. As a result, the exports reached the peak of 7.7K tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of raw cane sugar (without flavoring or coloring matter, other) contracted rapidly to $4.8M in 2022. Overall, exports saw a abrupt slump. The pace of growth appeared the most rapid in 2020 with an increase of 25% against the previous year. As a result, the exports attained the peak of $9.4M. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

Top Export Markets for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) from Spain in 2022:

1. France (4.3K tons)
2. United Kingdom (0.4K tons)
3. Portugal (0.1K tons)

Source: IndexBox Market Intelligence Platform